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KEB had addressed
its attention to build its position to the global standards
for the past one year. Could you please briefly tell us on the
outcome of 2005 and business strategies for the future.
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KEB has worked through a long period
of very intense internal focus. As a result of this, we have
accomplished a great deal recording best-ever earnings performance
in 9 months 2005 with net income of £Ü1.170 billion.
But we still have more to do, those things improving our internal
execution and raising our processes to global standards are
not done, and we need to have a continued focus on that. Now
it is time to move to a next phase of KEB's turnaround. We will
try to be the best bank in the market with enhanced image of
our bank, expanded capital base, and more improved productivity.
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You talked about building customer relations. Can you elaborate on how you plan to do this? And another thing is what strategies you have to remain competitive in this market that is crowed by international giants?
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We will compete effectively not only with foreign
banks but also some powerful domestic competitors as well based on our unrivaled
leadership in F/X and trade finance. This involves that we will focus on
expanding F/X sector and strengthening international banking side.
I think it is a part of the responsibility of senior management to be more
engaged with our key clients in order to build strong customer relations.
Mr. Robert E. Fallon, the chairman of BODs is focusing on customer relations
centering around good customers including prime SME clients as well as key
private banking clients. I am very confident of what we are going to accomplish
in the next phase and KEB will emerge into the position of the market where
we belong.
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KEB's key strengths in trade finance and F/X receive much recognition by international market. What are the business strategies for these sectors?
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We will continue to put our best to serve our customers
and come up with new products and deliver better performance. We have a
very strong position in trade finance and foreign exchange and these are
areas where we are going to put our best people and we are going to continue
to invest.
KEB's overseas branch network is the most extensive among all Korean banks
and we can leverage much more aggressively with our large corporate customers
and SME customers.
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What is your business strategies for the retail customer which I believe it is the core of building customer relations.
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Our retail customer base is very fluent and very
attractive and very loyal to KEB. We are spending lots of time making sure
we know what they exactly need and better way to serve them. We are going
to continue to expand our capability with more investment in our private
banking network and concentrate on bancassurance and beneficiary certificate
sales. We will also continue to grow our retail presence with selective
branch expansion and investment in branches to catch up some of under-investment
that the company was unable to make over the last several years.
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Since KEB had concentrated
its efforts on overcoming its financial burden resulting from the acquisition
of KEB Card last year, you might expect some outcome in the card business.
Could you tell us your vision and strategies for the card business?
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KEB has a long history of innovations and leadership
in card products for the industry. We believe we have aggressively stood
into the problems of card business and the business is ready to emerge as
a contributor to KEB. With differentiated card products and services and
strong competitiveness via CRM marketing, card business will be the key
area of our bank in the future.
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